What would you do with $149.3 million?

Not so lucky Powerball numbers...

Photo by Scott Mindeaux via Flickr

“At least three people in two states have beaten astronomical odds to become the nation’s latest Powerball millionaires,” writes Associated Press reporter Barbara Rodriguez.

One of the tickets was sold in Minnesota. The holder of that ticket is entitled to a third of the $448 million jackpot. Two other winning tickets were purchased in New Jersey. After taxes, the winners will still walk away with a hefty sum.

Today’s Question: What would you do with $149.3 million?

  • Gary F

    Wouldn’t it be about 75 Million?

    1. Move to the Black Hills
    2. Start a foundation to give scholarship endowments to Catholic elementary and high schools.
    3. Pay for my kid’s college.
    4. Make sure my family has everything they need.
    5. Think about what kind of business I’d like to start.

    But, it wouldn’t happen, I don’t have money to waste on lottery tickets. Rich people must buy them because I can’t afford them.

  • Sue de Nim

    The question is too hypothetical for me. Three reasons I don’t buy lottery tickets:
    1. It’s a bad bet (a “tax on people who are bad at math”).
    2. Even if you win, you lose; instant wealth brings more trouble than it’s worth.
    3. The state shouldn’t be promoting gambling.

    • Jeff

      You don’t buy the ticket, you buy a mini-vacation so you can dream about what you would do with the money. You purchase that experience, if you win the lottery that’s just icing on the cake. I realize that many people don’t view it like that and are crushed when they lose (every single time) but that is in fact what they purchased.

      • Sue de Nim

        False hope is bad for the soul.

        • Jeff

          Hope is hope, the false part is usually up to you…in a lottery someone has to win…people should realize there’s a 1 in many millions of a chance of winning but today 3 people proved your “false hope” wrong…one of them is right here in Minnesota.

          • Sue de Nim

            The hope is still false, whether you’re hoping to win, or hoping that suddenly being rich will make you happier.

          • Ralfy

            Sue – I completely agree. So, since I can’t buy happiness, I’d do the next best thing. I’d buy a congress-person or three, hire a PED abusing professional athlete to mow my lawn and carry my groceries and tell my boss to have a good day. Seriously, I would set up a trust for my kids and grand kids, not so they can retire at 21, but enough to supplement their income allowing them the freedom to work in their field of passion. Another slice would be to provide for my bride and myself in our twilight years. The remaining 90% would go to various organizations, from libraries to Doctors without borders. This is what I did with an inheritance a number of years ago (though significantly smaller $), and how we have structured our wills.

  • PaulJ

    Create the $1000.00 AA degree.

  • JQP

    Oh … like everyone else with money, try to change the way the world runs to match my petty personal ideals.

  • Craig

    That question is part of the lottery’s value proposition inasmuch as the ticket is a license to fantasize which expires on the night of the drawing. Demand for such a license skews perniciously downward.

  • Jim G

    I’d quit my job. Oh-right, I did that already. Then my wife would probably quit her job, darn it.

  • Steve from up North

    Well, off the top would be the student loans, and medical bills.
    Then probably a nice house for my wife and I, probably a dog too.
    Then I’m part of a group that is working at restoring an old theater in Virginia, MN. (lyriccenterforthearts.blogspot.com) They need about 10 million to get the job done.
    Then increasing my membership to MPR from $5 a month to some leadership level.
    After that then a sustaining endowment to Bemidji State University for the aquatic biology department (my alma mater), and one to Concordia in Moorhead for their math department (my wifes alma mater).
    Maybe give myself a bit to try and do a project idea I had in college that had to do with producing a movie series that had to do with aquatic insect behavior.
    Then a good amount to the area schools (wife is a teacher).

    Then I think the rest of it would probably sit in the bank and different financial institutions to make an attempt at growing to something that builds off itself and have a chance at being independently wealthy.

    It’s beyond a long shot, but it would be nice.

  • david

    I only buy into the office pool for fear of being the only one remaining should they win. After taxes and splitting it about 50 ways I imagine the total would be under 2 million. Probably wouldn’t be wise to retire on that amount at my age, but would actually be able to retire some day. That would be nice.

  • IceStormer

    I’d take the annuity, and move out of Minnesota as fast as humanly possible. I’d relocate to someplace remote enough from city life to be quiet and reasonably safe, yet close enough so I could get amenities like groceries and health care.

  • MPLS

    Winning ticket is in Anoka! Well, there goes the nation’s entire reserve supply of Zubas……

  • Pearly

    I think I would give half to Zygi Wilf and the other half to Mark Dayton

  • KTN

    I’d have a big party and hire Van Halen.

    • Pearly

      Sammy Hagar or David Lee Roth?

      • KTN

        David Lee Roth of course.

  • lindblomeagles

    This question is easy: pay off ALL my debts; plan two week vacations to Rio de Janeiro, Nome Alaska, and Santa Fe New Mexico; purchase a motor home; complete my Ph.D.; and save the rest for retirement (pretty sure Social Security and Medicare/caid will be gone in the next 30 years.

  • Joshua Caine

    Invest at least half in investments such as roths and the like, invest some in my local area by purchasing municipal bonds (I’m not in detroit), set up enough for schooling in a trust for my children, and for me, purchase a small house or something like that on a nice quiet pacific island, take helecopter pilot lessons, and pay someone else to put up this stupid fence.